§ 27-5B-9 — Credit for Reinsurance Required by Law

Credit shall be allowed when the reinsurance is ceded to an assuming insurer not meeting the requirements of Section 27-5B-4, 27-5B-5, 27-5B-6, 27-5B-7, 27-5B-8, or 27-5B-8.1, but only as to the insurance of risks located in jurisdictions where the reinsurance is required by applicable law or regulation of that jurisdiction.

Legislative History

(Act 2013-209, p. 463, §1; Act 2021-235, §1.)